Sensex, Nifty turn choppy on weak Asian cues

The benchmark BSE Sensex opened 59.64 points higher, but soon turned choppy in early trade, as investors cashed profits in metal, healthcare, PSU and auto stocks, amid weak Asian cues after US-China trade spat escalated.

After opening on a positive note, the BSE 30-share barometer dropped by 56.15 points, or 0.15%, to 36,183.47 led by fall in index majors Hero Motorcorp, Vedanta, Coal India and RIL shares.

The gauge had rallied 665.07 points in the previous three sessions on sustained buying by domestic institutional investors (DIIs).

However, a rise in shares of index heavyweight TCS capped Sensex losses, after the IT major posted reported better-than-expected earnings. It was the top gainer in the Sensex pack, rising 2.02% to 1,915.

The NSE Nifty index also fell by 17.40 points, or 0.16%, at 10,929.85.

Other gainers were Asian Paints, HDFC, Adani Ports, M&M, Bajaj Auto, Axis Bank, Wipro, HUL, Sun Pharma, ONGC, Yes Bank and IndusInd Bank, rising up to 0.86%.

Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net 20.73 crore, while DIIs bought shares worth a net 293.96 crore on Tuesday, provisional data showed.

A weak trend other in Asian bourses and sustained capital outflows weighed on investor sentiments here, brokers said.

Asian stocks declined after the Trump administration released the biggest list yet of Chinese goods it may hit with tariff increases.

Japan’s Nikkei fell 1.37%, while Hong Kong’s Hang Seng shed 1.68% in early deals. Shanghai Composite Index was down 0.76%.

The US Dow Jones Industrial Average ended 0.58% higher in Tuesday’s trade.

Bombay Stock Exchange - BSE

National Stock Exchange of India Ltd (NSE)